Lustros (OTC: LSLD) dropped a steep 32.21% yesterday, to a share price of $1.01, continuing its volatile performance at the over-the-counter market.
The stock opened yesterday’s trading at $1.30, but dropped straight down to a share price of $1.03 before 11 a.m. By 12 p.m., Lustros had already experienced a rebound to $1.18 and then declined steeply to $1.01. Just before 3 PM, the stock finally recovered again to a share price of $1.18. Just before 4 PM, the stock tanked again and at one point hit its intraday low price of $0.82. The stock closed a volatile day of trading at a share price of $1.01.
Lustros’ stock has been providing typical volatile performance at the over-the-counter market this year. The available statistics show that Lustros has declined 42.29% since the start of 2012.
To better explain the fluctuations with Lustros’ stocks, here are its recent events for investors’ reference:
May 25, 2012: Change in Directors/Principal Officers
April 9, 2012: Following the acquisition of Bluestone S.A., Power-Save Energy Company announces a change of name to Lustros, Ltd. The Company agreed that the name change would more effectively promote the company profile.
March 12, 2012: “Power-Save Energy Company declares the resignation of senior employees” (US Fed News)
March 1, 2012: Power-Save Energy Company confirms its intention to purchase Bluestone S.A., a Chilean corporation in the copper mining industry manufacturing food grade copper sulfate. The details of the acquisition are currently unknown.
Lustros, previously called Power-Save Energy Company, incorporated on July 30th, 1980. The company manufactures, promotes, and distributes renewable energy devices, all of which are designed to reduce the energy usage of the customer. Lustros supplies the residential and business markets and provides shipping services to its business customers, if needed.
The Company’s earliest device was the PS1200, designed for residential use. Devices PS3200 and PS3400 are primarily for business customers. PS3200 and PS3400 accommodate the needs of a light commercial or industrial setting. Lustros provides their business customers with photovoltaic electricity systems, Power-Save solar panels, and Power-Save wind turbines, which convert wind energy into electricity.
The company’s technology is designed to reduce the amount of watts drawn from the utility by using harmonic resistant capacitors. The capacitors store waste energy transmitted from the inductive load.
